the EU bank

The European Clean Transport Facility (ECTF) is a major EIB financing programme approved by the Economic and Financial Affairs Council of the European Union (ECOFIN) on Dec 2, 2008 to support investments targeting research, development and innovation in the areas of emissions reduction and energy efficiency in the European transport industry.

The ECTF will amount to EUR 4bn per year and targets automotive (manufacturers/suppliers), railroad, aircraft and shipping industries.

It is primarily designed to enhance the investment capacity of corporate borrowers in support of eligible investments.

• Beneficiaries: Companies of any size and ownership of both investment and sub-investment grade credit ratings (or equivalent) that are committed to an eligible investment programme in the European transport industry.
• Financing Structures: direct lending, co-financing, intermediated financing, guarantees for syndicate loans, etc. Generally the EIB utilises co-financing and intermediated structures with clients' existing "house-banks".
• Maturities: up to 10 years
• Pricing: attractive terms due to EIB's AAA-rating and not-for-profit policies. EIB's interest rate will include risk pricing according to the risk profile of the transaction.   

Eligible Project Cost Definition

Eligible investments comprise:

• research, development and innovation aiming at emissions reduction
• innovation/prototyping/new tooling, upgrading of existing/new production facilities that do not result in a net capacity increase and that target EU 2012/2020 CO2 passenger vehicle emission requirements and other emission/fuel efficiency objectives in the transport sector as well as complementary measures aimed at achieving the ECTF objectives